Metaverse exchange-traded funds are gaining traction in South Korea with retail investors diving into the sector, CNBC reported.
Eight metaverse ETFs were listed in South Korea as of January 19, reaping in over $1 billion in inflows. This includes over $800 million, which entered four funds tracking metaverse-related stocks in the country.
The data indicates that more inflows were recorded in local metaverse-related equities, with only $338 million being poured into global metaverse ETFs. Over 70% of the inflows came from retail investors.
Analysts believe the figures indicate that the market is generally positive on the metaverse, reflecting the growing popularity of the industry in both the public and private sectors of South Korea.
The K-pop industry is also expected to drive the South Korean metaverse industry even higher, with a number of metaverse infrastructure projects and non-fungible tokens related to the country’s entertainment industry.
The first four metaverse ETFs were launched in South Korea in October, recording $100-million worth of inflows in two weeks. META is flat, while EWY is up 0.72%.